Platinum Price in 1972
In 1972, the price of platinum averaged $119 per troy ounce, up 6.3% from the year before. This page covers the 1972 average, high, low, and year-end close, the events that moved the market, and what that platinum would be worth in today's dollars.
1972 Average
$119
LBMA annual average, USD/oz
Change vs 1971
+6.3%
from $112 in 1971
What happened to the platinum price in 1972
Platinum averaged $119 per troy ounce in 1972, up 6.3% from $112 the year before.
Platinum spent the 1970s establishing itself as a freely traded precious metal. From about $112 an ounce in 1971 it was carried higher by the decade's two oil shocks, accelerating inflation, and the first wave of automotive catalytic-converter demand after US emissions rules took effect, reaching $445 by 1979.
Adjusted for inflation, platinum's 1972 average of $119 equals about $918 in today's dollars. The conversion uses US Bureau of Labor Statistics CPI-U annual averages, so treat it as a close approximation rather than an exact figure.
Frequently Asked Questions
What was the price of platinum in 1972?
What is a 1972 platinum price worth in today's dollars?
Annual averages are LBMA and Johnson Matthey platinum prices per troy ounce in US dollars. Where shown, the yearly high, low, and close come from MetalCharts daily historical data and may differ slightly from figures published elsewhere. Inflation adjustments use BLS CPI-U annual averages.